Global Youth Unemployment Expected to Rise to 73 Million in 2022

Strategic Insights -

The International Labor Organization (ILO) has released a report highlighting the devastating impact of the Covid-19 pandemic on young people worldwide. With 73 million unemployed young people expected in 2022, the unemployment rate among this age group is slowly recovering but remains 6 million above pre-pandemic levels. The report notes that the pandemic has disproportionately affected young people, with 23.3% not in employment, education, or training (NEET) in 2020. Young women are particularly vulnerable, with 27.4% expected to be employed in 2022, compared to 40.3% of young men.

Key Takeaways:

  • The total number of unemployed young people worldwide is expected to fall to 73 million in 2022, a drop of two million from the previous year.
  • The youth unemployment rate is expected to reach 14.9% in 2022, with regional differences in prospects for young people.
  • Young women are less well off than young men, with 27.4% expected to work in 2022, compared to 40.3% of young men.
  • The gender gap in employment has shown little sign of narrowing over the past two decades.
  • In Africa, over one in five young people were not in employment, education, or training (NEET) in 2020, with the trend having deteriorated.
  • The ILO estimates that 8.4 million additional jobs for young people could be created by 2030 through the implementation of green and blue policy measures.
  • Achieving universal broadband coverage by 2030 could result in a net increase of 24 million new jobs worldwide, 6.4 million of which would be filled by young people.
  • Investments in the care sectors would create 17.9 million additional jobs for young people by 2030.

Statistics:

  • Total number of unemployed young people worldwide expected to fall to 73 million in 2022 (down from 75 million in 2021).
  • Youth unemployment rate expected to reach 14.9% in 2022.
  • 23.3% of young people not in employment, education, or training (NEET) in 2020.
  • 27.4% of young women expected to work in 2022.
  • 40.3% of young men expected to work in 2022.
  • 8.4 million additional jobs for young people estimated to be created by 2030 through the implementation of green and blue policy measures.
  • 6.4 million new jobs worldwide expected to be filled by young people through the implementation of universal broadband coverage by 2030.
  • 17.9 million additional jobs for young people estimated to be created by 2030 through investments in the care sectors.

Sources:

  • International Labor Organization (ILO)
  • United Nations
  • Report published on the occasion of International Youth Day